Barclays Forecasts Strong Price Appreciation for Alphatec (NASDAQ:ATEC) Stock

Alphatec (NASDAQ:ATEC) had its price objective lifted by investment analysts at Barclays from $20.00 to $21.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical technology company’s stock. Barclays‘s target price suggests a potential upside of 79.95% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Needham & Company LLC lifted their target price on Alphatec from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, January 13th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.56.

Alphatec Trading Up 2.5 %

Shares of Alphatec stock opened at $11.67 on Wednesday. Alphatec has a 1-year low of $4.88 and a 1-year high of $17.34. The company’s fifty day simple moving average is $9.80 and its 200-day simple moving average is $8.08. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The stock has a market capitalization of $1.65 billion, a PE ratio of -9.12 and a beta of 1.41.

Insider Buying and Selling at Alphatec

In other news, CEO Patrick Miles sold 6,687 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total transaction of $80,244.00. Following the transaction, the chief executive officer now owns 5,501,715 shares of the company’s stock, valued at approximately $66,020,580. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Sponsel sold 58,283 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $10.71, for a total transaction of $624,210.93. Following the transaction, the executive vice president now owns 502,311 shares in the company, valued at $5,379,750.81. The trade was a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,208 shares of company stock valued at $706,835 in the last three months. 22.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphatec

Hedge funds have recently modified their holdings of the business. R Squared Ltd bought a new stake in shares of Alphatec in the 4th quarter valued at about $29,000. Nisa Investment Advisors LLC raised its position in Alphatec by 973.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after buying an additional 4,234 shares during the last quarter. XTX Topco Ltd acquired a new stake in Alphatec during the 3rd quarter worth about $69,000. Net Worth Advisory Group acquired a new stake in shares of Alphatec during the 3rd quarter worth approximately $76,000. Finally, Van ECK Associates Corp boosted its stake in shares of Alphatec by 57.0% during the 3rd quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock worth $99,000 after acquiring an additional 6,998 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.